Singapore legislation
Clause 10
Clause 10
Power to raise loans
(1)
The Minister may, from time to time, by the issue of such securities in Singapore as he thinks fit, raise loans of a sum not exceeding in the whole S$10,000 million.
(2)
Notwithstanding subsection (1), but subject to Article 144 of the Constitution, Parliament may by resolution authorise the Minister to raise loans under this Act of a sum not exceeding in the whole such higher sum as may be specified in the resolution.